"The results of Tuesday's elections are in. All votes have been fairly counted and I, of course, accept the results. I want to congratulate Mr. Durr and wish him the best of luck," said Sweeney.
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Sweeney has served as Senate president since 2010 and has represented the third legislative district since 2002. He said it was a red wave that cost him the election.
"Twelve thousand more people came out. I lost by 2,000 votes," said Sweeney.
A new Senate president has not yet been chosen.
State Senator-elect Ed Durr spoke after Sweeney in Gloucester County.
"I think working together we can lower property taxes, help everyone prosper and stop government from interfering with our lives," said Durr at Gloucester County GOP Headquarters in Blackwood on Wednesday afternoon.
GOP newcomer Ed Durr under fire for past social media posts
He also addressed his derogatory social media posts that surfaced days after the election which contained anti-Muslim rhetoric, compared vaccine mandates to the Holocaust and questioned the validity of the insurrection at the U.S. Capitol.
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He apologized Wednesday afternoon.
"You get behind a keyboard and you don't see a person and you don't consider the other person. I just wrote something and I don't mean to offend anybody," said Durr.
After Durr addressed the media, he met with local Muslim community leaders at AL-Minhal Academy for Islamic Education in Sewell.
The New Jersey chapter of the Council on American-Islamic Relations invited Durr to meet after the posts began circulating.
Durr is set to be sworn in January.